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Rather, it is a list of vulnerable stores identified by the LDC, which uses a series of sophisticated measurements to understand the economic health of high streets.

There is evidence that shoppers are moving away from high streets towards retail parks. As a result, M&S is likely to put up the shutters on some town centre locations after opening outlets in nearby retail parks with plenty of parking.

The LDC says there are many areas where M&S has too many stores. London, which has 27, will inevitably lose some. At least one of the six in Glasgow appears vulnerable.

Areas such as Blackpool, Bolton, Boston and Hereford could lose their stores

M&S has not announced which of its stores faces the axe as part of the review process

LDC director Matthew Hopkinson said: ‘There are 35 towns and cities that have more than two M&S stores either on the high street, in a shopping centre or on the edge of town in a retail park.

‘If one removes the large urban centres such as London, Glasgow and other cities, there are 22 towns where one might question the need for two stores. Examples include Milton Keynes, Bournemouth, Durham, Fareham, Stockton-on-Tees, Swindon and Chichester.’

Stores which are vulnerable because the town centre is already in serious decline include Blackpool, Bolton, Boston, Hereford, Mansfield, Stoke and Sunderland.

Other town centres said to be ‘weakening’ include Carlisle, King’s Lynn, Macclesfield, Kettering, Maidstone and Bridlington. A separate heading covers stores where a high number of outlets within a 200-yard radius have already put up the shutters. These include Blackburn, Rochdale and Basildon.

Mr Hopkinson stressed there are many other ways to measure the performance of a town and store, which could produce different lists.

He said that, as retailers face fierce competition and falling profitability, ‘having the right shop in the right place with the right product and a loyal customer is what will ensure survival and indeed success’.

M&S said: ‘We are very disappointed that anyone would choose to speculate in this way. This list is not based on any M&S data and we have not published any locations. What we have done is outlined plans to improve our store estate over the next five years which include opening 200 new Food stores and selling Clothing and Home from 60 fewer stores.’